Forefront Communications

Markets Media: Fintech Targets Fixed Income


Mark Dowd

Mark Dowd


Fintech firms will continue to target the bond market as trading becomes more electronic and regulations change how firms approach data and reporting according to consultancy Aite Group.

Shawn Samuel, chief technology officer at LiquidityBook, told Markets Media that MiFID II has made operating in all markets more complex. “We want to go deeper in more asset classes. We see a lot of opportunity in fixed income with the new MiFID II,” he added.

LiquidityBook is a software as a service-based provider of buyside and sellside trading systems including its POEMS (portfolio, order and execution management system) platform.

“Our platform is built on modern cloud technology like Amazon and Google and so has the same advantages of scale and leverage,” said Samuel.

He continued that LiquidityBook opened an office in London last year due to the firm’s success with hedge funds in Europe.

Samuel added: “The key features they’ve seemed to gravitate towards is our flexibility over legacy order management systems given our software as a service model and the ability to customise workflows.”

Sean Sullivan, chief revenue officer at LiquidityBook, told Markets Media: “The competitive landscape is largely full of systems that use old databases, 10-20 year old code and local deployments of myriad versions. It has taken time for acceptance of fully cloud-based systems, but now that buysides are comfortable with it, a huge number of legacy technology systems are now being reviewed given their inherent disadvantages.”

Sullivan added that LiquidityBook is far along the sales process with a handful of asset managers in London and another two are in the pipeline.

“We expect to see activity pick up in London now that MiFID preparations are complete,” said Sullivan. “We think there’s a good chance we will double our footprint in London over the next year.”

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